Mike Norman Economics

Looks like the Treasury is using 'extraordinary measures' to keep the TGA stable as they juggle things under the Debt Ceiling...This is a good sign that these morons might actually be starting to figure it all out...What would have been a very large net disbursement from the TGA and associated price volatility inducing large increase in Reserve Assets in the banking system on Friday was offset by what appears to be Treasury not rolling over the exact amount of Intra-government Series...

10,000 per day now...  Transfer payments of Social Security and Medicare starting to dominate the growth in leading fiscal flows... mega-trend will continue for years...More than 10,000 people are now retiring each day in the U.S. But this daily retirement figure may fall by close to 2,500 people from an expected peak in the year 2023 to the year 2042 https://t.co/8tKzcfRiRS— Bloomberg Economics (@economics) June 4, 2019

Solid U.S. new care sales increase in May: Major automakers post U.S. higher May new vehicle sales https://t.co/q87EDk0TGN pic.twitter.com/l1H8XEuAWQ — Reuters Top News (@Reuters) June 3, 2019 From Mike's latest report: Auto loans were up $0.4B to $435B a new high.  Auto loans have risen 21 weeks in a row for a total of $12B. The growth rate increased by one-tenth to 3.3% YoY.  This is the fastest in 2 years.

Trade in both gold and USD deviates from recent past behavior.

Modern Monetary Theory disorients the Left by peddling simplistic monetary solutions to complex problems of political power. James Meadway is an economics adviser to the British Labour Party, who in this article is very critical of MMT. James Meadway says MMT can only work well in the US because the dollar is the world's reserve currency and it wouldn't be so effective in Britain.  MMT is also far too soft on the financial sector, says James Meadway, which is in need of serious...

As Valdai Club top analyst Yaroslav Lissovolik told me, there was much discussion “on the state of play in emerging markets in light of the developments associated with the US-China trade stand-off.” What emerged was the necessity of embracing “open regionalism” as a factor to neutralize “the negative protectionist trends in the global economy.” This translates as regional blocks along a vast South-South axis harnessing their huge potential “to counter protections pressures”, with...

Another side of the narrative. Longish and detailed, including eyewitnesses to events. US-supported attempt at regime change, with US spin after its failure? While the article doesn't mention it, the chief opponents of the present Chinese policy comes from Marxist-Leninist student that think the socialist revolution is being betrayed.Checkpoint AsiaEverything About the BBC/CNN Account of Tiananmen Square Is a Lie Godfree RobertsSee alsoThe Truth About the Iconic Tiananmen “Tank Man”...

Thomas Fazi is an Italian journalist and collaborator with Bill Mitchell on several books.The US is not the only neo-imperialist. It is joined by France and Great Britain.spikedFrench Colonialism Is Alive and Kicking in Africa, Has the Continent in an Iron Grip Thomas Fazi See also Disproportionate focus on corruption of national leaders distracts from the systemic theft of Ghana's wealth Slate98.3 percent of Ghana’s gold remains in the hands of multinational corporations Celina Della...

If you move all your expertise and factories to another country, train the staff there how to use the technology, and school them in our universities, then you have to be pretty dumb not to expect those people to use that knowledge not to build their own technology in the future.  We gave it away.Our response it's not to design and build our own better technology, but to pump money into the military industrial complex instead to force other nations to heal. Which is a big earner for the...

Ben Shapiro believes there is a market solution for everything. One of the best and worst things about the internet is, when someone says something stupid, it follows them forever. Right-wing commentator Ben Shapiro – who you might remember was recently schooled by the BBC’s Andrew Neil live on air – has found this out the hard way. A ludicrous clip has re-emerged of Shapiro arguing that climate change won’t be such a big deal “if the sea level rises five or ten metres” because people...